Biden says buy electric to save on gas, but EVs are expensive: Here's the math

  • 📰 dcexaminer
  • ⏱ Reading Time:
  • 33 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 94%

Car Car Headlines News

Car Car Latest News,Car Car Headlines

When President Joe Biden announced his plan for addressing gas costs Thursday, he placed heavy emphasis on the cost-saving benefits of electric vehicles, which he said will save drivers, on average, about $80 per month on gas.

"The bottom line is this: Between ramping up production in the short term and driving down demand in the long term, we can free ourselves from our dependence on imported oil from across the world,” Biden said.But while EVs save money in the long term due to lower costs of maintenance, insurance, and taxes, they also have significantly higher upfront costs — meaning that many drivers may not be able to afford them.

To help save time, many drivers opt to spring for a Level 2 charger, which can fully recharge their vehicles in eight hours. But they require exclusive charging equipment, which means professional installation and a dedicated electrical circuit — a cost that runs consumers an additional $2,000. Still, many states — including California, Colorado, Delaware, Georgia, Maine, Maryland, Massachusetts, Minnesota, Nevada, New Hampshire, New Jersey, New York, Oregon, Pennsylvania, and Vermont — also offer various tax credit and rebate programs for EV drivers to help further drive down costs and incentivize consumers to make the switch.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Wait tell you get the bill in the mail for road tax

They’re very expensive. That’s not the solution at this time.

So people are struggling to buy gas...so they want people to buy a new car Lost in reality

Don’t look now but the Presidential limousine is a gas hog! FJB

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in CAR

Car Car Latest News, Car Car Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Are EVs the Future of Transportation?On The Debate with CelesteHeadlee and AndrewTallman: DavidMichery CEO of Mullen Automotive joins to debate Ashley Nunes, Director of Competition Policy RSI, over the future of electric vehicles. Download and Subscribe:
Source: Newsweek - 🏆 468. / 52 Read more »

New Data Confirms That Demand For EVs Is Increasing Dramatically | CarscoopsNew Data Confirms That Demand For EVs Is Increasing Dramatically | Carscoops carscoops
Source: Carscoop - 🏆 306. / 63 Read more »

These are the fastest-charging EVsWith infrastructure challenges fading away, it's getting easier to find chargers. We set out to find the five fastest-charging electric cars. ashby_clarke
Source: MarketWatch - 🏆 3. / 97 Read more »